Pitcairn Co. Has $242,000 Stake in Quintiles Transitional Holdings Inc. (Q)
Pitcairn Co. reduced its position in Quintiles Transitional Holdings Inc. (NYSE:Q) by 8.0% during the second quarter, Holdings Channel reports. The fund owned 2,700 shares of the medical research company’s stock after selling 235 shares during the period. Pitcairn Co.’s holdings in Quintiles Transitional Holdings were worth $242,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Quintiles Transitional Holdings by 4,217.1% in the first quarter. BlackRock Inc. now owns 7,098,723 shares of the medical research company’s stock worth $571,660,000 after buying an additional 6,934,290 shares during the last quarter. Longview Partners Guernsey LTD boosted its stake in shares of Quintiles Transitional Holdings by 6.2% in the second quarter. Longview Partners Guernsey LTD now owns 8,711,447 shares of the medical research company’s stock worth $779,675,000 after buying an additional 505,526 shares during the last quarter. Johnston Asset Management LLC bought a new stake in shares of Quintiles Transitional Holdings during the second quarter worth approximately $35,123,000. Morningstar Investment Services LLC bought a new stake in shares of Quintiles Transitional Holdings during the first quarter worth approximately $24,539,000. Finally, AMF Pensionsforsakring AB bought a new stake in shares of Quintiles Transitional Holdings during the first quarter worth approximately $20,051,000. Institutional investors and hedge funds own 91.79% of the company’s stock.
Quintiles Transitional Holdings Inc. (NYSE:Q) opened at 91.70 on Friday. The firm’s 50-day moving average price is $90.14 and its 200 day moving average price is $83.96. Quintiles Transitional Holdings Inc. has a 12-month low of $70.10 and a 12-month high of $93.53. The stock has a market cap of $19.86 billion, a PE ratio of 265.80 and a beta of 0.64.
Quintiles Transitional Holdings (NYSE:Q) last posted its quarterly earnings data on Thursday, August 3rd. The medical research company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.04. Quintiles Transitional Holdings had a return on equity of 14.23% and a net margin of 0.82%. The company had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the business earned $0.93 EPS. Quintiles Transitional Holdings’s quarterly revenue was up 68.7% on a year-over-year basis. Analysts anticipate that Quintiles Transitional Holdings Inc. will post $4.58 EPS for the current year.
Quintiles Transitional Holdings announced that its board has initiated a share repurchase plan on Wednesday, May 24th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the medical research company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Several analysts recently issued reports on the company. Zacks Investment Research cut Quintiles Transitional Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, April 26th. Jefferies Group LLC reiterated a “hold” rating and set a $81.00 target price (up previously from $78.00) on shares of Quintiles Transitional Holdings in a research report on Friday, May 5th. Citigroup Inc. reiterated a “neutral” rating and set a $96.00 target price (up previously from $87.00) on shares of Quintiles Transitional Holdings in a research report on Wednesday, June 28th. Mizuho increased their target price on Quintiles Transitional Holdings from $90.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, May 4th. Finally, Robert W. Baird upgraded Quintiles Transitional Holdings from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $76.00 to $93.00 in a research report on Friday, July 7th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $89.94.
In other Quintiles Transitional Holdings news, major shareholder Cpp Investment Board Private H sold 7,131,165 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $84.01, for a total transaction of $599,089,171.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis B. Ph D. Gillings sold 860,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $84.01, for a total value of $72,248,600.00. Following the sale, the director now owns 10,002,230 shares of the company’s stock, valued at $840,287,342.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,864,468 shares of company stock valued at $745,413,651. 6.40% of the stock is owned by company insiders.
About Quintiles Transitional Holdings
Quintiles IMS Holdings, Inc, formerly Quintiles Transnational Holdings Inc, provides integrated information and technology-enabled healthcare services. The Company operates through segments, including Commercial Solutions; Research & Development Solutions, and Integrated Engagement Services. The Commercial Solutions segment offerings include national information offerings, sub-national information offerings, technology solutions, and workflow analytics and consulting services.
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